SOLUTION: If you invest $5,000 in a simple interest account at 1.8 percent for 5 years, what is the amount in the account at the end of 5 years?

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Question 817846: If you invest $5,000 in a simple interest account at 1.8 percent for 5 years, what is the amount in the account at the end of 5 years?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

If you invest $5,000 in a simple interest account at 1.8 percent for 5 years,

 what is the amount in the account at the end of 5 years?

I = Prt

$5,000  + $5,000(.018)5 = $5,180